The media is astonishing today in its barrage against Jeremy Corbyn. Presenters repeatedly state that to oppose nuclear weapons and foreign wars is “weak”, as though that were undeniable. Spending quantitive easing on public infrastructure is “inflationary” and “irresponsible” – and these are the presenters not the guests. Why simply handing quantitive easing money to the bankers is not inflationary or irresponsible is not explained.
I would claim to have got there on “people’s quantitive easing” before hearing that phrase. 42 months ago I published
It is beyond doubt true that the effect of creation of new money is to reduce the value of currency already in circulation. The effects will show through in inflation and the exchange rate. Of course, those will continue to be affected by other factors as well, which is why there are better and worse times to do it. But in effect Q.E. is still a transfer of wealth from those who hold any of the currency to those given the new stuff. In other words, more cash from you to the bankers.
Actually if QE had been used genuinely to stimulate the economy it would have been a marvellous thing. With £350 billion we could have built an enormous amount of social housing on brownfield sites, converted derelict high streets into housing, built the Severn barrage and a high speed rail link from London to Aberdeen and still have had change. We could have reopened the steel industry to do it. a thousand manufacturing firms could have been re-tooled. Millions could have been employed. The entire logic of economic depression could have been turned around.
Instead we gave more cash to the bankers.
Progressive opinion catches up with me eventually. In another decade or more likely two, mainstream journalists might catch up as well.
RofS –
“I can hardly fault the Japanese people for not dealing with such a monumental event in a better fashion.”
Thanks for the (unnecessary) “Nuclear Reactors 101”.
My point is that the Japanese government IS at fault for building those time-bombs (reactors) in the first place.
When nuclear reactors suffer catastrophic failure, for whatever reason (the statistical odds of which are ALWAYS significantly greater than zero) there simply is NO WAY TO DEAL WITH IT! It’s a total cluster-f**k whatever you try and do after the event.
RofS – “If it’s nuclear radiation or pollution you wish to address try the UK with 9000 DU shells fired into the Solway or the radio-active Dalgety Bay or Lochgilphead and Faslane polluted by nuclear subs.”
I agree, it’s total madness.
And Iraq – watch the documentary “Beyond Treason” (2005) – It’ll break your heart.
“as to the implicit notion that labour costs must be minimised”
It was neither implicit or explicit – in fact I would be looking for a strategy that avoided a race to the bottom on labour costs – as that is a race we would almost certainly lose in the UK.
“But can you point to anyone who might have a thought through industrial strategy in the UK? ”
Short answer no – Wilson started but gave up and Ed Miliband made a few passing references. The Corbynistas/Bennites really don’t understand the difference between an industrial strategy and central planning and get bogged down in ownership and control.
“Yes I agree – and they both employed similar economic models to that of Germany – and in none of those countries did Corbyn’s hard left/quasi Marxist economics have much sway did they?”
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Corbyn and his political views have nothing to do with it, infact if there wasn’t so much unrest in the UK due to failed policies coupled with greed among the most wealthy, Corbyn would be irrelevant.
No this isn’t about lefist politics, it’s about creating a prosperous business model for all, not just the wealthy.
We must invest in our people instead of contracting or purchasing from outside sources, it may be cheaper to to do so, in the short term,but disasterous in the long run socially, morally and eventually economically.
The lower and middle classes of society create the wealth. These groups spend money on goods and services, which in turn allows businessmen to create jobs due to the demand for goods.
This in turn creates more tax revenue for governments, which allows them to invest in the populations education, renew infrastructure and develop more services for the community.
This in turn creates a better educated workforce that can command a higher wage, which adds even more investment in society.
Update from migrant paradise Germany: turns out the thousands on the streets welcoming the ‘refugees’ were just the same bunch of lefty activists of the type you see doing the rounds in the London protest scene. Ordinary Germans are actually getting quite sick of it, not that you’ll see Jon Snow or the BBC interviewing them. Now that schools have been telling their female students to cover up in a bid to prevent ogling and pervy smartphone pics being taken by the young Muslim men in their vicinity, there may well be some backlash against Frau Merkel’s ‘Welcome the world’ policy yet.
Fred –
Thanks for the source.
I’ve done a little research.
President of Datanalisis (www.datanalisis.com) is José Antonio Gil Yepes, whose right-wing credentials are impeccable.
“In a study titled Venezuelan Community Abroad. A New Method of Exile by Thomas Paez, Mercedes Vivas and Juan Rafael Pulido of the Central University of Venezuela, of the more than 1.5 million Venezuelans who had left the country following the Bolivarian Revolution, more than 90% of those who left were college graduates, with 40% holding a Master’s degree and 12% having a doctorates and post doctorates
Emigrants of the Bolivarian diaspora primarily consist of professionals aged between 18 and 35. The majority of Venezuelans attempting to leave the country are in higher classes of the social structure” – i.e. the right-wingers whose mummies and daddies have mansions in Florida, and own most of the TV channels (which make Fox News Channel content look as dignified and poised as the Queen delivering her Christmas Message).
If you think the UK corporate media are being hard on JC (which they are, of course) I can assure you it pales in comparison to the vile, openly-slanderous filth that was broadcast daily against Chavez. And yet, despite all that, his approval rating (outside the elite) was always high.
“My point is that the Japanese government IS at fault for building those time-bombs (reactors) in the first place.”
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I agree with you there Pan, I’m not a lover of nuclear generated power, and I’m sure the good people of Hinckley Point would back me up on that particular point.
Nuclear power was at one point touted as the answer to our energy needs, and I’m sure many people agreed and still do with that sentence.
If we condemn Japan for using nuclear reactors then surely we must condemn all who use them including ourselves.
I am sure you may have overlooked the slight explosions of two mega deaths devices on Japan, when there were no reactors anywhere in sight.
Furthermore, given the number of atomic including thermonuclear devices exploded in the atmosphere, won’t you agree irradiation was there, to being with? The case for antinuclear power generation is akin to the case of banning all knives from everywhere, kitchens included in case some deranged character uses them for nefarious purposes.
So far as transportation goes due to the singular failure of the governments across the planet to institute a coherent transportation policy, we the people have been left with no other choice than acquiring vehicles with very high incidents of redundancy and bear the spiraling costs thereof. The fact that all the roads and pavements are designed for vehicular access leaving the pedestrian to walk further, taking longer to get to their destinations. That is not taking to consideration the incidents of criminal’s preying on the said pedestrians or cyclists.
Pan 13 Sep, 2015 – 6:33 pm
Agree…Colonialist systems moving target.
BtW I am often sarcastic, not good online, and a lot of the time positively blurry and rant streams of thought nobody should read, but it get’s me places sometimes.
Anyway, are inflationary policies a bad idea when there is underlying deflation?
Lord, save us from the responsible men.
RofS –
“If we condemn Japan for using nuclear reactors then surely we must condemn all who use them including ourselves.”
How about we just acknowledge that nuclear reactors have been proven to be extremely dangerous, and the knowledge of the consequences of their catastrophic failure should make it a no-brainer that everyone concerned should just STOP with them.
Imagine the kinds of clean energy we would have now if all the money that’s ever been spent on the entire nuclear energy industry (not counting the incalculable cost to the environment of its waste products) had been put into sustainable, clean energy R&D.
Ishmael –
“…and a lot of the time positively blurry and rant streams of thought nobody should read, but it get’s me places sometimes.”
It’s useful to have some awareness of how one’s creative flow operates!
Fedup –
“I am sure you may have overlooked the slight explosions of two mega deaths devices on Japan, when there were no reactors anywhere in sight.”
So let’s just risk making it orders of magnitude worse, shall we?
Furthermore, given the number of atomic including thermonuclear devices exploded in the atmosphere, won’t you agree irradiation was there, to being with?”
Yes, we have all of us been irradiated to some extent, but I seem to be constantly struggling with people here who don’t seem to understand the relevance of degree (i.e. amount). (We’re all a litlle bit radioactive now anyway, so why not just keep it going till we all glow in the dark?).
“The case for antinuclear power generation is akin to the case of banning all knives from everywhere, kitchens included in case some deranged character uses them for nefarious purposes.”
Nonsense. I think you know a straw man when you coin one.
Depends on the inflationary policies nuts and bolts. Is the inflation in the field of economic activity that is generating economic expansion, hence the shortfall of the money that needs to be reintroduced to cater for transaction of the new goods and services introduced.
On the other hand there is the policy of wealth sequestration and debt delinquency of the currency subject of printing presses. In this case the overall economic activities are on the shrinkage whilst concurrently the prices for goods rise. This is the wealth transfer mechanism that is used by the banksters to create bubbles and cater for these bubbles all the while acquiring the real assets with fiat currency getting churned out.
Where is the straw man?
The anti nuclear power generation is firmly rooted in the fear that those whom know how to generate nuclear power will have the know how to make nukes! The early years of the nuclear power generation for the reasons of producing bomb material saw the Anderson Price act absolving the culprits from any and all subsequential financial ruin. hence the almost cavalier attitudes to safety in nuclear industry, by pushing the acceptable boundaries of the time and the resultant accidents.
Best read the James Lovelock before he was cast into the wilderness because of his urging for more nuclear power generation. His guilt was to think aloud and talk about the not so fashionable, and oligarch owned media friendly subject.
Hi Mods.
Is anyone else around? I just went through this thread and took out about seven comments for anti-Semitism, including a thread from “Providence” who I suspect is an agent provocateur.
This is not racist of course and is still in place!
Along with the rest of racist drivel this particular commenter spews on an ongoing basis.
“How about we just acknowledge that nuclear reactors have been proven to be extremely dangerous, and the knowledge of the consequences of their catastrophic failure should make it a no-brainer that everyone concerned should just STOP with them.
Imagine the kinds of clean energy we would have now if all the money that’s ever been spent on the entire nuclear energy industry (not counting the incalculable cost to the environment of its waste products) had been put into sustainable, clean energy R&D.”
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Pan I’m all for clean energy, and Scotland at one point was the front runner in such fields, but as a Devil’s Advocate would say, what about countries that have neither the physical resources nor funding to strive for clean energy, what might be their options?
As we speak Russia is building the second of two nuclear power plants commissioned by Iran. Iran has the fourth largest oil supply in the world, yet has decided to build nuclear power plants.
Fedup –
“Where is the straw man?”
Kitchen knives do not, and never will be able to, despoil the environment and make it uninhabitable (or at least, carcinogenic) for tens of thousands of years.
There are also many useful things a knife can do, which nothing else can (except something else resembling a knife, perhaps).
There are so many ways to generate energy….need I go on?
Before the ranting starts again on all sides can I just say that I liked Fedups posts on inflation and Lovelace
Were not GE reactors foisted on TEPCO? Pressure was applied on a satellite state?k
The AMERICAN Government Is Dictating Japanese Nuclear Policy
October 8, 2012
http://www.washingtonsblog.com/2012/10/american-government-is-dictating-japanese-nuclear-policy.html
‘On April 18, 2007, Japan and the United States signed the United States-Japan Joint Nuclear Energy Action Plan, aimed at putting in place a framework for the joint research and development of nuclear energy technology.[26] Each country will conduct research into fast reactor technology, fuel cycle technology, advanced computer simulation and modeling, small and medium reactors, safeguards and physical protection; and nuclear waste management.[27] In March 2008, Tokyo Electric Power Company announced that the start of operation of four new nuclear power reactors would be postponed by one year due to the incorporation of new earthquake resistance assessments.’
https://en.wikipedia.org/wiki/Nuclear_power_in_Japan
Republicofscotland because Oil is far too precious to be burnt and thrown away, the complex chains of the Oil can be use to produce exotic plastics with huge number of applications.
The primitive methods of burning the oil and destroying the planet into the bargain is in the vogue because of the fears of those who have the nukes and are intent on blackmail the others who don’t! Useless as these weapons are in practice.
“nuclear waste management” is an oxymoron.
Pan, Yes now you mention it, it’s a lot like painting…
6.50pm
Anon1 would just love to see race riots break out in Germany.
Despicable.
PS What’s with this insulting term Corbynistas used by the trolls? Would they like Cameronistas?
Come on you are now grasping at straws! the volume of the said “nuclear waste” is far too small to be of any consequence!
“Craig, you may want to check the previous thread as well. Mary is going on about rapacious Jewish bosses and Goss is doing his Jewish bankers routine.”
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What a strange and rather misleading comment, unless Craig has removed them, I see no morally or religiously offensive comments from Mary or John Goss on the previous thread.
I did however notice Anon1 constantly attacking Jeremy Corbyn, that isn’t so strange.
Ishmael –
“Pan, Yes now you mention it, it’s a lot like painting…”
Must be getting tired. No comprendo.
Fedup –
“the volume of the said “nuclear waste” is far too small to be of any consequence!”
Think you need to do some research on that, mate!
Outline of Chomsky’s propaganda model here for those still intereted in the topic:
http://www.chomsky.info/onchomsky/198901–.htm
What does the propaganda model suggest regarding how anti-elite progressive political movements will be characterized in the media?
ESH(erman): It suggests that they will be systematically denigrated and denied reasonable access. This of course was nicely illustrated by the treatment of Jesse Jackson and the Rainbow Coalition in this election.
RM: How would you characterize media treatment of the Jackson candidacy?
ESH: As he was challenging some major priorities of the elite, one would expect him to be treated badly by the mass media, and he was in many ways: nitpicking, the emphasis on non-electability, an inordinate focus on his mistakes and associations that would be seen as damaging in the U.S. political context (Castro, PLO, Hymie, etc.) and, of course, a refusal to present and debate his program.
Just so.
“Republicofscotland because Oil is far too precious to be burnt and thrown away, the complex chains of the Oil can be use to produce exotic plastics with huge number of applications.
The primitive methods of burning the oil and destroying the planet into the bargain is in the vogue because of the fears of those who have the nukes and are intent on blackmail the others who don’t! Useless as these weapons are in practice.”
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Fedup, I hardly think Iran need to worry about running out of oil, anytime soon, so I’m not so sure that’s the reasons behind building nuclear power plants.
This however maybe one of the reasons Iran has gone down the nuclear road.
Iran produced 254 billion kWh gross in 2012, with consumption of about 200 TWh, per capita about 2600 kWh/yr.
Its 2012 electricity production comprised 170 TWh from gas, 69 TWh from oil, both of which it has in abundance, 12.5 TWh from hydro which is less reliably available, and 2 TWh from nuclear power.
Demand is growing about 4% per year, and Iran trades electricity with Afghanistan, Armenia, Azerbaijan, Iraq, Pakistan, Syria, Turkmenistan and Turkey. Net export is about 7 TWh/yr.